Overview

The value of mineral property is determined according to the special methods of valuation as described in section 7-36-25 NMSA 1978, Uranium Mineral Property.

If listing assets on the reporting forms, items purchased in the same year with a similar description can be grouped rather than listed individually. Printouts or existing lists of assets may be used if they contain the same information requested. The costs reported for all assets must be reconciled with the cost in the current assets, land, fixed assets, deferred mine development, deferred exploration and other asset accounts on the balance sheet. Give descriptions and explanations of the reconciling items and attach this reconciliation to the copy of the balance sheet that accompanies the Annual Rendition of Property.

Items of capital investment that are not taxable for property tax purposes:

1. Intangible property - see State Assessed Property Bureau Regulation 7-35-2 NMSA 1978 and 3 NMAC 6.1.7.4. Internal Revenue Regulations are not the criteria used to determine whether the property is tangible or not;

2. Pollution Control Facilities - When financed by an industrial revenue bond or pollution control bond, see Section 7-36-3 NMSA 1978;

3. New Mexico Licensed Motor Vehicles;

4. The cost of digging pits, shafts, drifts and other similar artificial changes in the physical condition of the surface or subsurface of the earth produced solely by the removal or rearrangement of the earth for the purpose of exposing or removing ore from a mine, see Section 7-36-23(B)(1) NMSA 1978.


Form Schedule

The forms listed below must be completed for your rendition:


Required Attachments

The following attachments are required for your rendition:

  • Annual Report to Stockholders

  • 10K Report

  • Detailed, audited income and expense statement for each NM Mine

  • Detailed, audited balance sheet for each NM Mine